The post Cathie Wood’s Ark Invest Reveals Stake in OpenAI appeared first on Coinpedia Fintech News
Ark Investment Management, led by Cathie Wood, has just made a bold move by grabbing a piece of OpenAI, the artificial intelligence company. On April 10, Ark decided to let their investors in on a little secret through an email that wasn’t so hush-hush after all. They’ve put money into OpenAI.
According to Ark, we’re in the middle of something huge—an explosion of AI innovation that’s changing the game faster than anyone expected. Brett Winton, Ark’s Futurist Strategist, shared some insights. He discussed a future where AI companies like OpenAI are monumental, with a market cap hitting $16 trillion by 2030.
Ark’s way of joining the OpenAI party wasn’t through a straightforward stock buy. They used a special vehicle, financial wizardry, to get in. They kept under wraps how much they threw into the pot or the actual technicalities of this deal. OpenAI itself hasn’t spilled any beans, either.
We know that OpenAI is now a cool 4% of Ark’s venture fund portfolio. And guess what? They’ve also bet on Anthropic, another AI player.
Brett couldn’t stop raving about OpenAI’s Sora model, a new tool that turns text into video. To him, and likely to anyone paying attention, the speed at which AI is evolving is nothing short of astonishing. Ark wants to participate in this action, not just as spectators.
But Ark’s not just throwing darts in the dark. They’ve got a strategy and a diverse portfolio to back it up. As of the end of March, their top 10 investments were a mix of companies across different sectors. Epic Games led the pack, followed by names like Freenome, Relation Therapeutics, and even SpaceX.
Interestingly, while they’re eyeing the future with AI, Ark hasn’t ignored the crypto market. A recent report of theirs made a sweet 16.5% increase in Bitcoin’s price in just March, touching $71,288. They’ve noticed some long-time Bitcoin holders cashing out but aren’t sweating it.
Why? New investors are coming in hot, attracted by cryptocurrencies’ shining potential. Ark sees this as just the beginning of a proper bull run for the market.
